Quote:
Originally Posted by rahl
there are still many problems with the plan. One being if the president wishes to make all insurance companies accept everyone regardless of pre-ex's, minimize out of pocket expenses, and have no anual or lifetime maximums then premiums are going to skyrocket. they have to or insurance companies are going to go bankrupt, there's no way around that. If they have to pay out more than they take in then that equals bankruptcy, it's simple math.
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It seems like bankruptcy of insurance companies is the only possible outcome if what you're saying is true (I haven't had time to review the speech).
After bankruptcy it sounds like the government is faced with the option of letting them fail, or bailing them out. The first leads to single payer, and the 2nd leads to government controlled insurance which basically seems like the same outcome to me.